Hoboken NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Hoboken, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hoboken Housing Market Information

With a population of 53,455, 25,132 total housing units (homes and apartments), and a median house value of $787,978, Hoboken house prices are not only among the most expensive in New Jersey, Hoboken real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Hoboken, accounting for 76.45% of the city's housing units. Other types of housing that are prevalent in Hoboken include duplexes, homes converted to apartments or other small apartment buildings ( 18.81%), row houses and other attached homes ( 3.17%), and a few single-family detached homes ( 1.48%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Hoboken is dominated by renter-occupied one, two, or no bedrooms apartments. 68.11% of Hoboken's dwellings are rentals.

The housing in Hoboken was primarily built before 1939 ( 36.18%), making the housing stock in Hoboken some of the oldest overall in America, although there is a range of ages of homes in Hoboken. The next most important housing age is between 2000 and later ( 28.34%), followed by between 1970-1999 ( 20.42%). There's also some housing in Hoboken built between 1940-1969 ( 15.06%).

Hoboken Home Appreciation Rates

Appreciation rates for homes in Hoboken have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 38.05%, which ranks in the top 30% nationwide. This equates to an annual average Hoboken house appreciation rate of 3.28%.

Over the last year, Hoboken appreciation rates have trailed the rest of the nation. In the last twelve months, Hoboken's appreciation rate has been 3.28%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hoboken were at 1.08%, which equates to an annual appreciation rate of 4.41%.

Relative to New Jersey, our data show that Hoboken's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hoboken differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hoboken - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hoboken real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$787,978

Hoboken, NJ HOME PRICES

Value Range
> $1,162,000 20.3
$871,001 - $1,162,000 19.8
$581,001 - $871,000 35.8
$465,001 - $581,000 10.7
$348,001 - $465,000 9.3
$232,001 - $348,000 2.0
$116,001 - $232,000 0.7
$58,001 - $116,000 0.7
$0 - $58,000 0.7

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
2.41167883211679 8.48484848484849

Number Of Homes And Apartments:
25,132

Hoboken Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
108.93% 3.75%
9
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,227 / per month

Homeownership Rate

Homeownership
Owners 31.89
Renters 68.11
Vacant 7.97

Housing Market Details

 

Age of Homes

AGE OF Hoboken HOMES
2000 or Newer 28.3
1970 - 1999 20.4
1940 - 1969 15.1
1939 or Older 36.2

Types of Homes

TYPE OF Hoboken HOMES
Single-Family 1.5
Townhomes 3.2
Small Apt. Buildings 18.8
Apt. Complexes 76.5
Mobile Homes 0.0
Other 0.1

Home Size

SIZE OF Hoboken HOMES
No Bedroom 4.99
1 Bedroom 35.59
2 Bedrooms 44.23
3 Bedrooms 11.36
4 Bedrooms 2.88
5 or more bedrooms 0.95